Industry Notes


May 13, 2024

More YoY Supply Chain Inventory Progress

By Steven Fox

Our latest look at aggregate inventories up and down the supply chain suggested some more YoY improvements towards a return of more normalized inventories, albeit in the context of some typical seasonal increases in March…

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May 7, 2024

Uber Eats to Be Available on Instacart Platform

By Steven Fox

This morning, Maplebear, doing business as Instacart (CART; $36.53; E/W) and Uber Technologies (UBER; $71.51; O/P) announced a surprising strategic partnership whereby customers will be able to use the Instacart app to order food delivery…

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April 22, 2024

More Powerful Takeaways from Data Center World

By Steven Fox

As per our prior report (“A Powerful Data Center Conference”; 4/17), we spent a few days last week at Data Center World in Washington DC, where the wild level of bullishness we highlighted from our…

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April 18, 2024

Mixed March European Registrations

By Steven Fox

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of March, which was somewhat below seasonal trends including weaker electric vehicle registration trends that should be measured…

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April 17, 2024

A Powerful Data Center Conference

By Steven Fox

This week, we are spending time at what appears to be a very well attended Data Center World in Washington D.C. where we had the opportunity already to hear from and chat with managers representing…

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April 10, 2024

Lots of Moving Pieces into CQ1 EPS Season

By Steven Fox

Stocks in our tech supply chain coverage are +7% YTD and +35% YoY on average as a broadening set of cyclical recoveries were further priced in for H2. Along those lines, we expect CQ1 EPS season…

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April 4, 2024

The Big Promises of Software Defined Revisited

By Steven Fox

Last week, we sat in on a Reuters virtual panel on “Navigating the Future of Software Defined Vehicles in Automotive Innovation” with senior managers from Amazon Web Services (AMZN; $184.27; NR), Stellantis (STLA; $27.24; NR),…

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March 21, 2024

Some Healthy European Auto Data

By Steven Fox

This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of February, which was somewhat above seasonal trends. Overall, European car registrations (15-20% of global demand) declined only…

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February 20, 2024

Some Early Year Auto Facts to Consider

By Steven Fox

This morning, the European Automotive Manufacturers Association released car registration data from the region for the month of January. Overall, European car registrations (15-20% of global demand) declined 3% MoM from December or right around…

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February 12, 2024

Supply Chain Survey Highlights More Inventory Progress

By Steven Fox

Our latest look at aggregate inventories up and down the supply chain suggested some more solid improvements towards a return of more normalized levels, although it is hard not to argue there remains “more inventory…

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January 22, 2024

Not All Bad News on the Electric Vehicle Front

By Steven Fox

We think there are some positives worth focusing on amongst all the electric vehicle (EV) hand wringing of recent weeks. For example, recent updates from direct current fast charging (DCFC) network operators EVgo (EVGO; $2.72;…

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January 19, 2024

Will Minimum Q1 Visibility Reign In 2024 Bullishness?

By Steven Fox

We think a muted end to the December quarter, combined with ongoing uncertainty around the impact of high interest rates on capital spending-driven markets, and typical seasonal pressures to start the year suggests to us…

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January 18, 2024

A Mixed Bag of Year-End European Auto Data

By Steven Fox

This morning, the European Automobile Manufacturers Association released car registration data from the region for the month of December, which was slightly below seasonal trends. Specifically, European vehicle registrations in December (~20% of global demand)…

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January 16, 2024

CES Highlights Ads Focus of Delivery & Rideshare Networks

By Steven Fox

We think a just announced Maplebear, d/b/a Instacart (CART; $23.09; O/P), tie-up with Google Shopping ads plus presentations from Uber Technologies’ (UBER; $63.20; O/P) Megan Ramm, Global Director, Head of Consumer Packaged Goods (CPG) Partnerships,…

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January 9, 2024

New DoL Rules Look Manageable

By Steven Fox

This morning, the Department of Labor (DoL) issued a final rule, which becomes effective on March 11th, that provides additional guidance towards the agency determining if a worker should be considered an employee or independent…

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